DSA Financial Corporation Declares a Quarterly Dividend and Reports Earnings for the Second Quarter Ended December 31, 2015

LAWRENCEBURG, Ind., Jan. 08, 2016 (GLOBE NEWSWIRE) -- DSA Financial Corporation (OTCBB:DSFN)-- John P. Young, President and Chief Executive Officer of DSA Financial, announced today that the Company’s board of directors has declared a dividend on its common stock of $0.11 per share. The dividend is payable on February 11, 2016 to stockholders of record as of January 25, 2016.

DSA Financial also announced its financial results for the second fiscal quarter and the six months ended December 31, 2015. The Company recorded net earnings of $249,000 or $0.15 per share which reflected a decrease of $34,000 or $0.02 per share, as compared to the $283,000 or $0.17 per share for same quarter ended December 31, 2014. In addition, the Company recorded net income of $438,000 or $0.27 per share for the six month period ended December 31, 2015, which reflected a decrease of $89,000, or $0.05 per share, as compared to the six month period ended December 31, 2014.

Net earnings for the three months ended December 31, 2015 of $249,000 reflected a decrease of $34,000, or 12.0%, as compared to net earnings of $283,000 for the quarter ended December 31, 2014. This decrease in earnings was primarily attributable to a $60,000 decrease in net interest income and a $49,000 decrease in other income partially offset by a $24,000 decrease in general, administrative and other expense and a $38,000 decrease in income taxes. General, administrative and other expense was significantly lower due to reduced expenses related to foreclosed real estate.

Net earnings for the six months ended December 31, 2015 were $438,000, a decrease of $89,000, or 16.9%, as compared to the six month period ended December 31, 2014. The decrease in earnings was primarily attributed to an $89,000 decrease in net interest income and a $45,000 decrease in other income offset by a $62,000 decrease in income taxes. Other income for the six month period ended December 31, 2014 included gains on sale of investments that were $64,000 greater than for the six month period ended December 31, 2015.

DSA Financial reported total assets of $116.4 million at December 31, 2015, total liabilities of $98.2 million, including deposits of $90.9 million and total stockholders’ equity of $18.1 million.

DSA Financial Corporation is the holding company for Dearborn Savings Bank, a federally chartered savings bank headquartered in Lawrenceburg, Indiana. Dearborn Savings operates through its main office and one branch office.

DSA FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
	(unaudited, dollars in thousands except per share data)
													December 31,				June 30,
ASSETS														2015				2015
Cash and cash equivalents													$	14,081			$	6,173
Investment and mortgage-backed securities														7,465				16,032
Loans receivable														86,331				86,385
Other assets														8,490				8,986
Total assets													$	116,367			$	117,576
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits													$	90,906			$	89,171
Advances from the FHLB														5,000				8,000
Other liabilities														2,331				2,245
Total liabilities														98,237				99,416
Stockholders' Equity														18,130				18,160
Total liabilities and stockholders' equity													$	116,367			$	117,576
	DSA FINANCIAL CORPORATION
	CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
									Six months ended								Three months ended
									December 31,								December 31,
										2015				2014				2015				2014
Total interest income									$	2,034			$	2,122			$	1,005			$	1,063
Total interest expense										324				323				163				161
Net interest income										1,710				1,799				842				902
Provision for losses on loans										(43	)			(50	)			(43	)			(30	)
Net interest income after provision for losses on loans										1,753				1,849				885				932
Other income										281				326				161				210
General, administrative and other expense										1,387				1,377				682				706
Earnings before income taxes										647				798				364				436
Income taxes										209				271				115				153
NET EARNINGS									$	438			$	527			$	249			$	283
EARNINGS PER SHARE									$	0.27			$	0.32			$	0.15			$	Editor's Picks Breathing through your nose when you exercise may make your runs easier Entrepreneurs are facing a mental health crisis — here's how to help them Are fish oil supplements as healthy as we think? And is eating fish better? Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us human Does AI have a right to free speech? Only if it supports our right to free thought How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics? Why we need to set limits on sperm donation Aging with a healthy brain: How lifestyle changes could help prevent up to 40% of dementia cases Seven techniques to avoid weight regain, approved by experts Market Data Market Data by TradingView Financial Markets by TradingView Most Popular 1 Trump Expands U.S. Travel Ban to Antigua and Barbuda, Dominica, Sparking Economic Fears in the Caribbean 2 Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 3 Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 4 BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 5 Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 6 TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 7 New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 8 Trump Signs Order to Ease Federal Marijuana Rules, Signaling Major Policy Shift 9 Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 10 Trump Administration Proposes Sweeping Limits on Gender-Affirming Care for Children EconoTimes Back to Top ▲ ©PUBLISH Holdings . All Rights Reserved. By using this site, you agree to the Terms of Service, Privacy Policy, and Cookie Policy. About us Advertise with us Contribute Contact Us Disclaimer: EconoTimes provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and EconoTimes specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Brokerage. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. EconoTimes expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results. Welcome to EconoTimes Sign up for daily updates for the most important stories unfolding in the global economy.